In: Accounting
What roles do product attributes and perceptions of attributes play in the positioning of a product? Can an attribute common to several competing brands contribute to a successful positioning strategy?
Ask your students to think of shared attributes among competitors. Are these companies still able to use this attribute to contribute to a successful positioning strategy? A good way to start this discussion is to point out how different quick-service restaurants have positioned themselves based on the shared attribute of speedy delivery of hamburgers. However, each brand has further refined their positioning strategy by focusing on key differences between the attributes of the hamburgers themselves (Wendy’s square meat; Burger King flame-broiled meat; etc.).
A product’s position is the way the product is defined by consumers. Therefore, product attributes and their perceptions form the foundation for any positioning. An attribute may be common among various competing brands but there can still be a successful positioning strategy based on how this attribute is perceived by the customers for each brand.